No room for non-filers in Pakistan: Aurangzeb

NEW YORK: Finance Minister Muhammad Aurangzeb said on Thursday that now there was no room for non-filers, warning that imposing strict restrictions on them will delimit their accounts facilities further.

Speaking to an American TV channel, Aurangzeb said that “Our collected data about these non-filers showed all their assets and overall creamy lifestyle and trip to developed countries, leading us to know about their source of income.”

The enactment of the new policy will bring sectors like property dealers, retailers, wholesalers and agriculture into the tax net, the minister said.

During the interview, he underscored that “We shared the same plan with the International Monitory Fund (IMF) as have no option anymore.”

The minister further said that the total revenue increased by 29 per cent last year (2023) and the tax-to-gross domestic product ratio increased up to 10 per cent. “If we want this to be the last IMF programme, we will have to take drastic measures for financial stability,” Aurangzeb said.

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The minister thanked friendly countries including China and Saudi Arabia for lending support that paved the way for the approval of $7 billion from the IMF.